Tuesday, September 30, 2008

Who Will Rescue the Rescuers?

David Brooks has writen a fascinating and very strong editorial in this morning's NY Times.

The gist is that America wobbles now on the shakiest of grounds because it lacks leadership and authority.

Like many of us, he awaits a resolution to the bailout debacle.

In the meantime, don't even bother to look at what remains of your portfolio.

Go fishing. Talk to your parents or children. Cook dinner.

1 comment:

MurdocK said...


The more this current series of situations boil out of control, the more I am drawn to a little board game called "The Republic of ROME" from Avalon Hill.

In this game players take on the leadership of factions in the historical Roman senate, during the time before the rise of the Julian family through Gaius Ceasar to the domination of the state by a single group.

The game is based in history, has some assumptions that are perhaps a bit far-fetched, however the collaborative portion of it, through the senate votes and the collective potential to have everyone lose the game includes the possibility that the state can fail by becoming bankrupt, with the resulting chaos following such an event brining the mass populace out in mob violence and those leaders, their lives and power base get destroyed, ROME falls due to a civil disorder and some other Mediterranian power rises.

I suspect that this prospect of such a run on the banks and the destruction of the power in Washington is a big part of the reason for these immense plans coming forward to 'save' the economy. It is the economy that 'those in power' wish to continue to have the 'power' over.

What remains to be seen is whether or not these 'power-brokers' can get control over the immense public purse strings to keep the global craps game going.